The launch took place after two failed launch attempts: One on Monday and one Tuesday evening. Monday's launch was scrapped after a delay in communications with the rocket was detected on the launch pad. Tuesday's launch abortion happened due to low pressure in the combustion chamber.

The Space Exploration Technologies Corporation, or SpaceX, a startup company founded by PayPal co-founder Elon Musk, aims at lowering the cost of access to space. The $7 million price tag to launch the Falcon 1 is about ten percent lower than launches of rockets from other companies. SpaceX hopes that the relatively low price tag will make it the premier company in an already crowded launcher market.

Researchers should be able to easily fix the problem that forced the rocket to unexpectedly roll almost 200 miles above Earth, according to Musk. While the Falcon 1 did not complete all of its intended goals after launch, SpaceX execs are pleased with the progress the rocket has made so far. "The launch was not perfect, but certainly pretty good," he said.

The Falcon 1 is a two-stage booster rocket, powered by liquid oxygen and kerosene, that SpaceX has designed to carry payloads weighing up to 1,256 pounds into orbit.

"We did encounter, late in the second burn, a roll control anomaly," said SpaceX CEO Elon Musk.